With effect from 30th September, BRAIN FORCE HOLDING AG has acquired a 10 percent shareholding in New York-based KEMP Technologies Inc. as part of a cash capital increase.
The contract to participate provides for further cash capital increases in three stages, bringing the shareholding ratio to 30 percent before the end of the next three quarters. The capital increases and the resultant shareholding ratio are linked to the achievement of turnover and yield targets respectively.
Furthermore, KEMP Technologies Inc. is to acquire all rights to the product 'Load Balancer B-100' from BRAIN FORCE HOLDING AG. The KEMP product 'LoadMaster' is already based on the B-100. The funds from the capital increases will enable KEMP, with immediate effect, to market the LoadMaster with all necessary vigour in the United States. The BRAIN FORCE group will retain control over sales and distribution in Europe.
BRAIN FORCE HOLDING AG is selling the rights to the B-100 for US$ 900,000 (approx. EUR 750,000). The proceeds will be reflected in the third quarter results.
The contract to participate provides for further cash capital increases in three stages, bringing the shareholding ratio to 30 percent before the end of the next three quarters. The capital increases and the resultant shareholding ratio are linked to the achievement of turnover and yield targets respectively.
Furthermore, KEMP Technologies Inc. is to acquire all rights to the product 'Load Balancer B-100' from BRAIN FORCE HOLDING AG. The KEMP product 'LoadMaster' is already based on the B-100. The funds from the capital increases will enable KEMP, with immediate effect, to market the LoadMaster with all necessary vigour in the United States. The BRAIN FORCE group will retain control over sales and distribution in Europe.
BRAIN FORCE HOLDING AG is selling the rights to the B-100 for US$ 900,000 (approx. EUR 750,000). The proceeds will be reflected in the third quarter results.